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This paper examines the key issues relating to the UK pension system. It reviews the current system of pension provision, describes and analyses the reforms since 1980, examines the legal regulatory and accounting framework for occupational pension schemes, assesses the different types of risks...
Persistent link: https://www.econbiz.de/10010884512
Housing and pension wealth are shown to be important determinants of personal sector consumption and retirement … behaviour in the UK. Housing and state pension wealth have a positive effect on consumption, while private pension wealth … promotes greater savings. Greater private defined benefit pension wealth encourages earlier retirement, while greater de …
Persistent link: https://www.econbiz.de/10011071212
In 1997 Chancellor Kohl proposed a major pension reform: he pushed the law through Parliament explaining that the German PAYG system had become unsustainable. One limitation of the new law - one that is crucial for our identification strategy - is that it left the generous pension entitlements...
Persistent link: https://www.econbiz.de/10010928811
We use a general equilibrium life-cycle model with incomplete markets and heterogeneous agents to evaluate the macroeconomic and welfare implications of Defined Benefit (DB) versus Defined Contribution (DC) systems, and to investigate the effects of incremental reform within a particular system....
Persistent link: https://www.econbiz.de/10010746402
The sharp rise in household finance, both in debt and in assets, is one of the striking empirical facts about the US economy of the last two decades. But it is still not clear what caused it. Economists, both mainstream and heterodox, seek an explanation in financial market innovation and...
Persistent link: https://www.econbiz.de/10011126600
disadvantage in terms of income than their counterparts. What is less well understood is how they fare in terms of their wealth … and household wealth holdings. We find that overall disabled people have substantially lower household wealth and all … components of wealth (property, financial, pension, physical) than non-disabled people but even these average differences mask …
Persistent link: https://www.econbiz.de/10011126081
The theory of functional equations is used to clarify the relationship between equilibrium distributions of wealth and …
Persistent link: https://www.econbiz.de/10010746547
Temkin (1986,1993) sets out a philosophical basis for the analysis of income inequality that provides an important … axiomatic structure and we use this structure to derive a new class of inequality indices and an inequality ordering. This class … of indices has a family relationship to well-known measures of inequality, deprivation and poverty. The ordering is shown …
Persistent link: https://www.econbiz.de/10010884654
Inequality measurement involves explicit or implicit value judgements. The subjective approach to inequality …
Persistent link: https://www.econbiz.de/10010928600
This article provides a brief overview of the key issues in inequality measurement and has been prepared for inclusion …
Persistent link: https://www.econbiz.de/10010928769